I wish we could credit it to the govenor but it is the operation of
law. Our govenator continues to be a disappointment.
As to
Ben's forecast of possible public debt default, the State Controller says that
is not going to happen if a budget is passed in the next several months. Large
as the State of California debt service is, the payroll load is far far far
larger and those savings insure adequate liquidity to continue making debt
payments.
Boater8095
At 02:12 PM 8/2/2008, you wrote:
I take it as good news that
California is showing a little fiscal responsibility and tring to cut
expenses as they face lower tax revenues. Had they done nothing and
begun to face defaults then *that* would be *bad* news indeed.
Bob
On 8/2/08, Ben <profitok@xxxxxxxxxxnet >
wrote:
- everything is REALLY bad
- all employees of california state recieved a letter telling them not
to come to work monday
- and, if they do
- they only get min wage!!!
- mkt should come hard down with this news
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